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The Double Win

Fresh Start for a New Year | Katy Milkman

The Double Win

Michael Hyatt

Education, Productivity, Influence, Teamleadership, Self-improvement, Selfdevelopment, Achievement, Business, Intentionality, Management, Personaldevelopment, Selfleadership, Leadership

4.81.5K Ratings

🗓️ 3 January 2023

⏱️ 50 minutes

🧾️ Download transcript

Summary

There is a lot of data behind the effectiveness of the Fresh Start Effect. Understanding how to harness the new year could be the difference between a good year and a great year.

Transcript

Click on a timestamp to play from that location

0:00.0

So he said, you know, do you want to start saving after your next birthday? Do you want to start

0:03.6

saving at the start of spring? And the question was, if we offered this delayed opportunity to begin

0:10.7

a goal at a date that was aligned with a fresh start, would it lead to more take-up? Then if we

0:16.4

offered it at a arbitrary date that wasn't the same distance in the future, but didn't have those

0:21.2

fresh start affiliations or associations. That's Katie Milkman. She's an award-winning behavioral

0:27.8

scientist and a professor at the Wharton School of the University of Pennsylvania.

0:32.7

She's also the author of How to Change, the science of getting from where you are to where you

0:37.7

want to be. What was really exciting is that we found it led to about 20 to 30 percent more savings

0:44.4

over the next nine months to link those opportunities to begin with fresh start dates like the start

0:50.4

of spring and the celebration of a birthday. So I think managers can use that insight to look for

0:56.4

fresh starts that are going to be meaningful for your employees and think about offering

1:00.3

opportunities to begin something that you feel would be valuable for that employee's development

1:04.6

at those fresh start dates. Now in case you hadn't noticed, it's a new year. In fact, happy new year.

1:16.6

But what does that really even mean? A new year, isn't it just another day in a long string of days?

1:23.1

Sure. But it's also a chance for a change. And what the research demonstrates is that it's a chance

1:30.7

for actually some big and possibly very significant changes, not only in our personal lives, but in our

1:36.2

businesses too.

1:38.6

Hi, I'm Joel Miller. I'm the Chief Product Officer here at Full Focus. And this is the Business

1:55.6

Accelerator Podcast. It's not just the Business Accelerator Podcast. As I mentioned before, it's the

2:01.1

first episode in 2023 of the Business Accelerator Podcast. And I'm really excited about the show

2:08.5

today because it's a chance for us to think about the fresh start effect and how it might apply in

2:15.5

our lives and our businesses. To help us explore this topic, our founder, Michael Hyatt and our CEO,

...

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